Dutch pension fund ABP has announced that it will switch to the new pension system in the Netherlands on 1 January 2027.

It had previously planned to switch to the new pension system, which was introduced last week (1 July), in 2026.

However, it decided to postpone the switch by a year after Deputy Prime Minister and Minister for Poverty Policy, Participation and Pensions, Carola Schouten, announced that pension funds would be given until 1 January 2028 to implement the new pension rules.

The implementation deadline for the new pension system, which will see the Dutch model shift focus from defined benefit (DB) pensions to defined contribution (DC) pensions, was initially set at 1 January 2027.

ABP stated that, as funds were given additional time, it was taking the opportunity to implement the new pension rules “properly and carefully.”

It added that it will use the extra year to test the new processes and systems even more extensively.

'We want to move our participants to the renewed pension system as soon as possible,” commented ABP executive director of pensions, Yolanda Verdonk.

“At the same time, we think it is very important for them that it is done carefully and in a controlled manner.

“We are therefore making use of the extra time offered by the minister, after all, this is a hefty job.”

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